Russia charges Uralkali CEO Baumgertner with abuse of power
MOSCOW, November 22 (RAPSI) - Uralkali CEO Vladislav Baumgertner has been officially charged with abuse of power, the Investigative Committee's official spokesman Vladimir Markin said on Friday.
Baumgertner was detained in Minsk on August 26. According to the Belarusian authorities, the criminal case against him was launched as the result of a probe into abuse of power allegations that led to grave damage to the public interests of Belarus, and damages to the company Belarusian Potash.
The charges followed a July decision by Uralkali to dissolve its international cartel with Belaruskali, sending potash prices spiraling down. Baumgertner remains in Minsk since he was placed under house arrest in September.
A criminal investigation into the chief executive of the world's largest potash producer was opened in Russia on October 15. On October 21, Moscow's Basmanny District court issued an arrest warrant in absentia for Baumgertner.
If convicted, Baumgertner faces up to 10 years in prison.